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Valeant to redeem 5 3/8%, 6 3/8%, 6¾%, 7¼% senior notes on July 2
By Wendy Van Sickle
Columbus, Ohio, June 1 – Valeant Pharmaceuticals International, Inc. said it will redeem one series of its notes and three series of notes issued by its Valeant Pharmaceuticals International subsidiary on July 2, according to a press release.
The notes include Valeant Pharmaceuticals International, Inc.’s $691 million 5 3/8% senior notes due 2020 and Valeant Pharmaceuticals International’s $146 million 6 3/8% senior notes due 2020, $578 million 6¾% senior notes due 2021 and $550 million 7¼% senior notes due 2022.
The redemptions will be funded using a portion of a new term loan and some proceeds of a new $750 million issue of 8.6-year 8½% senior notes, as well as cash on hand.
Bank of New York Mellon Trust Co., NA is the trustee.
The specialty pharmaceutical company is based in Laval, Quebec.
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